Ad Age's Nat Ives got Townsend on the phone. So rest easy, remaining Conde staffers: Townsend says there are "zero" mag shutdowns to come. Now all you have to worry about is being laid off in the coming rounds of painful 25% budget cuts at almost every title!

Townsend also said that the shuttering of Gourmet was a financial necessity:

It was operating as a burden. In the middle of this decade it was a profitable business, but having two of those businesses did not help the situation. And the dominant business — particularly with the consumer — is Bon Appetit, which emerged as the considerably stronger business.